Analysts Set Flutter Entertainment PLC (NYSE:FLUT) Price Target at $177.48

Shares of Flutter Entertainment PLC (NYSE:FLUTGet Free Report) have been given an average recommendation of “Moderate Buy” by the twenty-nine analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, sixteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $176.2609.

Several brokerages have recently weighed in on FLUT. Freedom Capital raised Flutter Entertainment to a “hold” rating in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $167.00 target price on shares of Flutter Entertainment in a research note on Friday, May 8th. Wells Fargo & Company reduced their target price on Flutter Entertainment from $168.00 to $137.00 and set an “equal weight” rating for the company in a research report on Monday. Zacks Research upgraded shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Moffett Nathanson downgraded shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target on the stock. in a research note on Friday, April 24th.

View Our Latest Report on Flutter Entertainment

Insider Activity at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 3,084 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $98.13, for a total value of $302,632.92. Following the sale, the chief executive officer owned 74,326 shares of the company’s stock, valued at $7,293,610.38. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Mark Taylor bought 1,611 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the purchase, the chief executive officer owned 34,584 shares of the company’s stock, valued at $3,260,925.36. This trade represents a 4.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 10,453 shares of company stock worth $1,045,526 and sold 5,994 shares worth $577,293. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors have recently added to or reduced their stakes in FLUT. Capital International Investors raised its holdings in shares of Flutter Entertainment by 146.8% in the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after buying an additional 4,782,302 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Flutter Entertainment during the 4th quarter worth approximately $1,678,841,000. Caledonia Private Investments Pty Ltd boosted its stake in Flutter Entertainment by 3.8% in the 4th quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock valued at $1,546,538,000 after buying an additional 264,856 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Flutter Entertainment by 33,988.7% in the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after buying an additional 5,589,099 shares in the last quarter. Finally, Tiger Global Management LLC boosted its stake in Flutter Entertainment by 9.4% in the 4th quarter. Tiger Global Management LLC now owns 4,003,542 shares of the company’s stock valued at $860,922,000 after buying an additional 345,350 shares in the last quarter.

Flutter Entertainment Stock Up 1.1%

NYSE FLUT opened at $100.86 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a 50-day simple moving average of $103.25 and a 200 day simple moving average of $121.11. Flutter Entertainment has a twelve month low of $91.52 and a twelve month high of $313.68. The stock has a market cap of $17.55 billion, a PE ratio of -47.13, a PEG ratio of 1.37 and a beta of 1.31.

Flutter Entertainment (NYSE:FLUTGet Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.13. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 earnings per share. On average, research analysts forecast that Flutter Entertainment will post 4.72 EPS for the current year.

About Flutter Entertainment

(Get Free Report)

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.

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Analyst Recommendations for Flutter Entertainment (NYSE:FLUT)

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